Wu Blockchain has learned that Solana treasury company DeFi Development Corp. (Nasdaq: DFDV) announced plans for an initial public offering of up to $20 million in variable-rate Series C perpetual preferred stock (“CHAD Stock”), with an option to grant underwriters a 30-day option to purchase up to an additional 15% of the shares. The preferred stock has a par value of $10 per share, an initial annualized dividend rate of 13%, calculated and paid daily, with the first regular dividend expected to be paid on October 1, and no maturity date. The company plans to establish a reserve equivalent to the first 12 months of dividends upon completion of the offering, calculated at $1.30 per share. The funds raised are intended for general corporate purposes, including working capital, purchasing SOL and other digital asset-related investments, strategic transactions, and business expansion. https://(wublock123.com)/news/news-67544